AFE Project Management & Capital Planning Flashcards
6 cards from real AFE practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 AFE Project Management & Capital Planning flashcards as text
Which procurement strategy allows an owner to overlap design and construction activities to accelerate project delivery?
Answer: Fast-track delivery
Fast-track delivery allows construction to begin on completed portions of a project before the entire design is finished, compressing the overall schedule.
In a facilities capital budget, what is typically meant by 'deferred maintenance'?
Answer: Maintenance and repairs that have been postponed beyond their recommended time, accumulating as a backlog
Deferred maintenance is the accumulated backlog of maintenance and repairs that were not performed when due, increasing the risk of accelerated deterioration.
What is the primary advantage of using a Construction Manager at Risk (CMAR) delivery method for a complex facilities project?
Answer: Engages the construction manager early to provide constructability input and a guaranteed maximum price
CMAR brings the construction manager on board during design to provide cost and constructability feedback, then commits to a Guaranteed Maximum Price before construction begins.
A Facilities Engineer is evaluating whether to repair or replace aging HVAC equipment. Which financial analysis technique considers the time value of money?
Answer: Net Present Value (NPV) analysis
NPV analysis discounts future cash flows to their present value, allowing meaningful comparison of repair versus replacement options over different time horizons.
Which document, issued after substantial completion, lists items that must be corrected or completed before final acceptance of a construction project?
Answer: Punch list
A punch list documents incomplete or deficient work identified during the final inspection that the contractor must remedy before the owner grants final acceptance.
In facilities asset management, what does a 'renewal and replacement' (R&R) fund primarily support?
Answer: Planned capital expenditures to replace or significantly renovate building systems at end of useful life
An R&R fund is a dedicated capital reserve accumulated over time to fund the planned replacement of major building systems when they reach the end of their useful life.